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Employee Bonds
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INFORMATION CONTACT:
Keith Richards, Risk Manager, Human Resources, 704-283-3663
ACTION REQUESTED:
Approve bond amounts for the Financial Services Administrator ($100,000.00) and the Tax Administrator ($60,000.00)
BACKGROUND:
The Financial Services Administrator and Tax Administrator are required by North Carolina General Statute to maintain personal bonds. Individuals are responsible for securing these personal bonds. Union County has undertaken the responsibility for placement of these bonds and paying the premiums as an inducement to attract qualified personnel. Bonds are placed by USI Insurance Services. The Finance Director is required to carry a bond in the amount of $100,000.00. The bond for the Tax Administrator is $60,000.00.
FINANCIAL IMPACT:
$350.00 paid annually for the Financial Services Administrator. $210.00 paid annually for the Tax Administrator